Presented below is the condensed balance sheet of the partnership of A, B, and C who share profits and losses in the ratio of 2:3:5. respectively: Cash 100,000 Liabilities 50,000 Other assets 350,000 A, Capital 110,000 B, Capital 120,000 C, Capital 170,000 Total 450,000 Total 450,000 The partners agree to sell to D 10% of their respective capital and profit and loss interests for a total payment of P50,000. The payment by D is to be made directly to the individual partners using the book value approach. Determine the capital balance of C after admission of the new partner.
Presented below is the condensed balance sheet of the partnership of A, B, and C who share profits and losses in the ratio of 2:3:5. respectively: Cash 100,000 Liabilities 50,000 Other assets 350,000 A, Capital 110,000 B, Capital 120,000 C, Capital 170,000 Total 450,000 Total 450,000 The partners agree to sell to D 10% of their respective capital and profit and loss interests for a total payment of P50,000. The payment by D is to be made directly to the individual partners using the book value approach. Determine the capital balance of C after admission of the new partner.
Presented below is the condensed balance sheet of the partnership of A, B, and C who share profits and losses in the ratio of 2:3:5. respectively: Cash 100,000 Liabilities 50,000 Other assets 350,000 A, Capital 110,000 B, Capital 120,000 C, Capital 170,000 Total 450,000 Total 450,000 The partners agree to sell to D 10% of their respective capital and profit and loss interests for a total payment of P50,000. The payment by D is to be made directly to the individual partners using the book value approach. Determine the capital balance of C after admission of the new partner.
Presented below is the condensed balance sheet of the partnership of A, B, and C who share profits and losses in the ratio of 2:3:5. respectively:
Cash
100,000
Liabilities
50,000
Other assets
350,000
A, Capital
110,000
B, Capital
120,000
C, Capital
170,000
Total
450,000
Total
450,000
The partners agree to sell to D 10% of their respective capital and profit and loss interests for a total payment of P50,000. The payment by D is to be made directly to the individual partners using the book value approach.
Determine the capital balance of C after admission of the new partner.
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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